EFC: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EFC
Largest movements
- Cash +€58,950
up €58,950 (+93.8%), from €62,822 to €121,772
mainly Net result for the year (+€71,883) and Other debts (+€11,055)
- Receivables within one year +€18,495
up €18,495 (+199.1%), from €9,287 to €27,782
of which Trade receivables: +€15,571
- Tangible fixed assets -€7,697
down €7,697 (-50.0%), from €15,382 to €7,685
of which Furniture and vehicles: -€8,318
- Reserves +€60,245
up €60,245 (+47.5%), from €126,830 to €187,075
- Other debts +€11,055
new in 2025: €11,055
- Debts after one year -€7,028
no longer reported in 2025 (was €7,028)
- Tax, wage and social debts +€4,748
up €4,748 (+77.3%), from €6,145 to €10,893
- Gross operating margin +€63,125
up €63,125 (+114.7%), from €55,013 to €118,138
- Financial charges -€31,761
down €31,761 (-95.2%), from €33,369 to €1,608
- Taxes +€19,396
up €19,396 (+107.4%), from €18,067 to €37,464
- Financial income -€12,210
down €12,210 (-86.4%), from €14,136 to €1,926
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,962 | €225,460 | +€69,499 | +44.6% |
| Fixed assets | 21/28 | €15,382 | €7,685 | -€7,697 | -50.0% |
| Tangible fixed assets | 22/27 | €15,382 | €7,685 | -€7,697 | -50.0% |
| Plant, machinery and equipment | 23 | - | €621 | +€621 | |
| Furniture and vehicles | 24 | €15,382 | €7,065 | -€8,318 | -54.1% |
| Current assets | 29/58 | €140,579 | €217,775 | +€77,196 | +54.9% |
| Amounts receivable within one year | 40/41 | €9,287 | €27,782 | +€18,495 | +199.1% |
| Trade receivables | 40 | €4,596 | €20,167 | +€15,571 | +338.8% |
| Other amounts receivable | 41 | €4,691 | €7,616 | +€2,924 | +62.3% |
| Current investments | 50/53 | €68,469 | €68,220 | -€249 | -0.4% |
| Cash at bank and in hand | 54/58 | €62,822 | €121,772 | +€58,950 | +93.8% |
| Total equity and liabilities | 10/49 | €155,962 | €225,460 | +€69,499 | +44.6% |
| Equity | 10/15 | €133,030 | €193,275 | +€60,245 | +45.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €126,830 | €187,075 | +€60,245 | +47.5% |
| Distributable reserves | 133 | €126,830 | €187,075 | +€60,245 | +47.5% |
| Amounts payable | 17/49 | €22,932 | €32,185 | +€9,254 | +40.4% |
| Amounts payable after more than one year | 17 | €7,028 | - | -€7,028 | |
| Financial debts | 170/4 | €7,028 | - | -€7,028 | |
| Amounts payable within one year | 42/48 | €15,904 | €32,185 | +€16,281 | +102.4% |
| Current portion of amounts payable after more than one year | 42 | €7,601 | €7,028 | -€573 | -7.5% |
| Trade debts | 44 | €2,159 | €3,209 | +€1,051 | +48.7% |
| Suppliers | 440/4 | €2,159 | €3,209 | +€1,051 | +48.7% |
| Taxes, remuneration and social security | 45 | €6,145 | €10,893 | +€4,748 | +77.3% |
| Taxes | 450/3 | €6,145 | €10,893 | +€4,748 | +77.3% |
| Other amounts payable | 47/48 | - | €11,055 | +€11,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,318 | €8,470 | +€152 | +1.8% |
| Other operating charges | 640/8 | €681 | €641 | -€39 | -5.8% |
| Gross operating margin | 9900 | €55,013 | €118,138 | +€63,125 | +114.7% |
| Operating profit (loss) | 9901 | €46,015 | €109,027 | +€63,013 | +136.9% |
| Financial income | 75/76B | €14,136 | €1,926 | -€12,210 | -86.4% |
| Recurring financial income | 75 | €14,136 | €1,926 | -€12,210 | -86.4% |
| Financial charges | 65/66B | €33,369 | €1,608 | -€31,761 | -95.2% |
| Recurring financial charges | 65 | €33,369 | €1,608 | -€31,761 | -95.2% |
| Profit (loss) for the period before taxes | 9903 | €26,782 | €109,346 | +€82,564 | +308.3% |
| Income taxes | 67/77 | €18,067 | €37,464 | +€19,396 | +107.4% |
| Profit (loss) for the period | 9904 | €8,715 | €71,883 | +€63,168 | +724.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,715 | €71,883 | +€63,168 | +724.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.